Biden Bans Stock Trading! 📉
Biden Bans Stock Trading!
Joe Biden has banned Tiktok and stock trading… from his campaign staffers.
The Democratic presidential nominee had his top lawyer ping off an email to staffers telling them to pause their portfolio antics and put their stock pitches before a general counsel that can give them a greenlight. This rules out all forms of day trading and makes investing slow.
The whole point is to stop staffers from trading off non-public material (which is illegal), and that signals to us that some policies to come from Joe Biden will make the market move!
It’s also an effective counter to Trump’s campaign. His inner circles are accused of profiteering, so Biden has ethical fodder for activism against the president’s own controversies. The move to ban Tiktok is interesting, though, made on “security and privacy concerns.”
If Biden is banning all whom he can now (his staff) from Tiktok, it’s likely his beliefs won’t change materially after being authorized to ban the entire United States from it. We can read between the lines here and see that perhaps, Sino-US relations will stay ropey for a while.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.